Hawaiian Holdings’ (HA - Free Report) wholly owned subsidiary Hawaiian Airlines reported a 1.9% rise in traffic, measured in revenue passenger miles (RPMs) for the month of July. The figure increased to 1.48 billion from 1.45 billion a year ago.
On a year-over-year basis, consolidated capacity (or available seat miles/ASMs) inched up 0.5% to 1.69 billion. Also, the load factor or percentage of seats filled by passengers rose to 87.3% from 86.2% recorded in Jul 2016, as traffic growth outpaced capacity expansion.
On a year-to-date basis, the carrier has registered a 6.1% rise in RPMs to 9.37 billion, while ASMs nudged up 3.3% to 10.95 billion, both on a year-over-year basis. Also, load factor increased by 220 basis points year over year to 85.6%. Plus, passenger count (PAX) for Jul 2017 and the first seven months of the year grew 2.5% and 3.3%, respectively.
This Zacks Rank #3 (Hold) company was also in news recently when it reported second-quarter 2017 earnings numbers. The company’s adjusted earnings of $1.58 per share for the reported quarter beat the Zacks Consensus Estimate of $1.53. However, revenues of $675 million for the same period, fell short of the Zacks Consensus Estimate of $677 million by a narrow margin. Both earnings and revenues increased on a year-over-year basis. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Airline heavyweights like Southwest Airlines (LUV - Free Report) , American Airlines Group (AAL - Free Report) and Alaska Air Group (ALK - Free Report) have also revealed their second-quarter 2017 results of late. Each company has reported better-than-expected results, beating on both earnings and revenues.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>